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Elon Musk faces a $15 billion tax bill, which is likely the real reason he’s selling stock

admin by admin
November 8, 2021
in Tax
0
The “cow tax” chain of misinformation

Musk asked his 62.7 million Twitter followers over the weekend whether he should sell 10% of his Tesla holdings. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” he tweeted.

The Tesla CEO said he would “abide by the results of this poll, whichever way it goes.” The results were 58% in favor of selling and 42% against, suggesting he will sell the shares.

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No matter the results of the poll, Musk would have likely started selling millions of shares this quarter. The reason: a looming tax bill of more than $15 billion.

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